Much of this article originally appeared in the Progressive
Review during the 1992 campaign. It has been updated

BEHIND THE BUSHES INDEX

1918

Prescott Bush Sr., leads a raid on a Indian tomb to secure Geronimo's
skull for Skull & Bones.

1937

Prescott Bush's investment firm sets up deal for the Luftwaffe
so it can obtain tetraethyl lead.

1942

Three firms with which Prescott Bush is associated are seized under
the Trading with the Enemy Act.

SARASOTA HERALD-TRIBUNE: The president of the Florida Holocaust
Museum said Saturday that George W. Bush's grandfather derived a
portion of his personal fortune through his affiliation with a Nazi-controlled
bank. John Loftus, a former prosecutor in the Justice Department's
Nazi War Crimes Unit, said his research found that Bush's grandfather,
Prescott Bush, was a principal in the Union Banking Corp. in Manhattan
in the late 1930s and the 1940s. Leading Nazi industrialists secretly
owned the bank at that time, Loftus said, and were moving money
into it through a second bank in Holland even after the United States
declared war on Germany. The bank was liquidated in 1951, Loftus
said, and Bush's grandfather and great-grandfather received $1.5
million from the bank as part of that dissolution . . . Loftus pointed
out that the Bush family would not be the only American political
dynasty to have ties to the "wrong side of World War II."
The Rockefellers had financial connections to Nazi Germany, he said.
Loftus also reminded his audience that John F. Kennedy's father,
an avowed isolationist and former ambassador to Great Britain, profited
during the 1930s and '40s from Nazi stocks that he owned. "No
one today blames the Democrats because Jack Kennedy's father bought
Nazi stocks," Loftus said. Still, he said, it is important
to understand these historical connections for what they tell us
about politics today. The World War II experience points out how
easy it was then -- and remains today -- to hide money in multinational
funds.

SARASOTA HERALD TRIBUNE

1953

George Bush and the Liedtke brothers form Zapata Petroleum. Zapata's
subsidiary, Zapata Offshore, later becomes known for its close ties
to the CIA.

1954

The Bush family buys out the Liedtke brothers.

1955

George Bush sets up a Mexican drilling operation, Permago, with
a frontman to obscure his ownership. The frontman later is convicted
of defrauding the Mexican government of $58 million.

1959

Manuel Noriega recruited as an agent by the US Defense Intelligence
Agency.

1960

Some investigators believe George Bush spent part of this year
and the next in Miami on behalf of the CIA, organizing rightwing
exiles for an invasion of Cuba. Is said to have worked with later
Iran-Contra figure Felix Rodriguez.

1961

According to the Realist, CIA official Fletcher Prouty delivers
three Navy ships to agents in Guatemala to be used in the Bay of
Pigs invasion. Prouty claims he delivered the ships to a CIA agent
named George Bush. Agent Bush named the ships the Barbara, Houston
and Zapata.

George Bush invites Rep. TL. Ashley -- a fellow Skull & Boner
-- down to Texas for a party in order to meet "an attractive
girl." Bush writes that "she may be accompanied by an
Austrian ski instructor but I think we can probably flush him at
the local dance hall." Bush notes that he's had to unlist his
phone because "Jane Morgan keeps calling me all the time."
[From a letter in the Ashley archives uncovered by Spy magazine.]

Zapata annual report boasts that the company has paid no taxes
since it was founded.

1963

John F. Kennedy is assassinated. Internal FBI memo reports that
on November 22 "reputable businessman" George H. W. Bush
reported hearsay that a certain Young Republican "has been
talking of killing the president when he comes to Houston."
The Young Republican was nowhere near Dallas on that date.

According to a 1988 story in The Nation, a memo from J. Edgar Hoover
states that "Mr. George Bush of the CIA" had been briefed
on November 23rd, 1963 about the reaction of anti-Castro Cuban exiles
in Miami to the assassination of President Kennedy. George says
it ain't him, admits he was in Texas but can't remember where.

1964

George Bush runs as a Goldwater Republican for Congress. Campaigns
against the Civil Rights Act.

1966

Bush, runs as a moderate Republican, gets elected to Congress.
Robert Mosbacher chairs Oil Men for Bush.

Apache leader Ned Anderson meets with the Skull & Bones lawyer
and George Bush's brother Jonathan who attempt to return the skull
Prescott Bush had looted. Anderson refuses the skull because he
says it isn't Geronimo's.

1968

George W. Bush joins Skull & Bones at Yale

1970

Bush loses Senate race to Lloyd Bentsen, despite $112,000 in contributions
from a White House slush fund. Jim Baker is campaign chair. Bush
later claims to have reported correctly all but $6000 in cash --which
he denies he got. A 1992 story in the New York Times says the $6000
was listed in records of Nixon's "townhouse operation"
which was designed in part to make GOP congressional candidates
vulnerable to blackmail.

1971

Bush is named UN Ambassador by Nixon.

Bureau of Narcotics and Dangerous Drugs finds enough evidence of
Noriega's involvement in drug dealing to indict him, but US Attorney's
office in Miami considers grabbing Noriega in Panama for trial here
to be impractical. State Department also urges BNDD to back off.

1972

Bill Liedtke gathers $700,000 in anonymous contributions for the
Nixon campaign, delivering the money in cash, checks and securities
to the Committee to Re-Elect the President (the infamous CREEP)
one day before such contributions become illegal. Bill says he did
it as a favor to George.

1973

Bush is named GOP national chair. Brings into the party the Heritage
Groups Council, an organization with a number of Nazi sympathizers.

Bush, according to Lowell Weicker, inquires as to whether records
of the "townhouse operation" should be burned.

Watergate tapes indicate concern by Nixon and aide HR Haldeman
that the investigation into Watergate might expose the "Bay
of Pigs thing." Nixon also speaks of the "Texans"
and the "Cubans." and mentions "Mosbacher."

In another tape, Nixon decides following his re-election to get
signed resignations from his whole government so he can centralize
his power. Says Nixon to John Erlichman: "Eliminate everyone,
except George Bush. Bush will do anything for our cause."

1974

Bush is named special envoy to China.

1975

DEA report notes Noreiga's involvement in drug trade.

George W. Bush graduates from Harvard Business School

1976

Jerry Ford names George Bush CIA director, his fourth political
patronage job in a little over five years. Bush later claims this
is the first time he ever worked for the CIA. At his confirmation
hearings, Bush says, "I think we should tread very carefully
on governments that are constitutionally elected."

Bush holds first known meeting with Noriega. Noriega starts receiving
$110,000 a year from the CIA.

Noriega found to be working for Cubans as well, but keeps his CIA
gig.

Bush sets up Team B within the CIA, a group of neo-conservative
outsiders and generals who proceed to double the agency's estimate
of Soviet military spending.

Senate committee headed by Frank Church proposes revealing size
of the country's black budget -- intelligence spending that, in
contradiction to the Constitution, is kept secret even from the
Hill. According to journalist Tim Weiner, Bush argues that the revelation
would be a disaster and would compromise the agency beyond repair.
By a one vote margin the matter is referred to the Senate. It never
reaches the floor.

Chilean dissident Orlando Letelier is assassinated by Chilean secret
police agents. CIA fails to inform FBI of pending plot and of assassins'
arrival in US. CIA claims the hit was the work of left-wingers in
search of a martyr.

Bush writes internal CIA memo asking to see cable on Jack Ruby
visiting Santos Trafficante in jail. In 1992, Bush will deny any
interest in the JFK assassination while CIA head.

Bush claims nuclear war is winnable.

1977

Philippine dictator Marcos buys back Robert Mosbacher's oil concession.
Mosbacher claims he was swindled. Philippine officials say they
never saw any expenditures by Mosbacher on the project.

1978

Bush, Mosbacher and Jim Baker become partners in an oil deal.

From a Washington Post article by Bob Woodward and Walter Pincus:
"According to those involved in Bush's first political action
committee, there were several occasions in 1978-79, when Bush was
living in Houston and traveling the country in his first run for
the presidency, that he set aside periods of up to 24 hours and
told aides that he had to fly to Washington for a secret meeting
of former CIA directors. Bush told his aides that he could not divulge
his whereabouts, and that he would not be available." Former
CIA chief Stansfield Turner denies such meetings took place.

George W. Bush declares his candidacy for the Midland Congressional
district. He wins the Republican primary and loses in the general
election.

George W. Bush begins operations of his oil firm, Arbusto Energy.
With the help of Jonathan Bush, he assembles several dozen investors
in a limited partnership including Dorothy Bush, Lewis Lehrman,
William Draper, and James Bath, a Houston aircraft broker

Mosbacher becomes chief fundraiser for Bush's presidential campaign.
Forms a millionaire's club of 250 contributors, each of whom cough
up $100,000.

William Casey forms a working group to prepare for possible Carter
October political surprise. In early October, an Iranian official
meets with three top Reagan campaign aides. All three deny memory
of the meeting in subsequent proceedings.

On October 21, Reagan hints he has a secret plan to release the
hostages. This is right around the alleged date of a Paris meeting
at which the so-called "October Surprise" was settled.
Some allege that at this meeting it was agreed to end the arms embargo
against Iran if Iran would release its hostages after the election.
While Bush's presence at this meeting has been denied by the House
committee investigating the October Surprise, Bush's whereabouts
at this critical time remain in doubt. The White House, in fact,
has leaked conflicting stories.

Rep. Dan Quayle goes on a Florida golfing vacation with seven other
men and Paula Parkinson -- an insurance lobbyist who later posed
nude for Playboy. Parkinson describes Quayle as a husband on the
make, but says she turned him down because she was already having
an affair with another congressman. Marilyn Quayle says, "anybody
who knows Dan Quayle knows he would rather play golf than have sex."

Bush's campaign manager, James Baker, forces the dismissal of Bush
aide Jennifer Fitzgerald, described in a 1982 Time story as having
"much to say about where Bush goes, what he does and whom he
sees." Bush continues to pay Fitzgerald out of his own pocket.

1981

Reagan-Bush inaugurated. Hostages released moments before. Shortly
thereafter, arms shipments to Iran resume from Israel and America.
In July, an Argentinean plane chartered by Israel crashes in Soviet
territory. It is found to have made three deliveries of American
military supplies to Iran. In a 1991 story in Esquire, Craig Unger
quotes Alexander Haig as saying "I have a sneaking suspicion
that someone in the White House winked." Says Unger: "This
secret and illegal sale of military equipment continued for years
afterwards."

James Baker named Reagan's chief of staff.

SEC filings for Zapata Oil for 1960-66 are found to have been "inadvertently
destroyed."

Reagan authorizes CIA assistance to Contras.

1982

CIA director William Casey begins Operation Black Eagle to expand
US role in Central America. Urges use of "selected Latin American
and European governments, organizations and individuals" in
the project.

Inslaw, a computer software company, signs a $10 million contract
to install a case-tracking program in 94 US Attorney's offices.
Four months later, after obtaining a copy of Inslaw's proprietary
version of the program, the government cancels the contract and
begins an aggressive campaign to force the company into bankruptcy.
Later sources claim that the program was installed by the CIA and
sold to various foreign intelligence agencies.

After $3 million is poured into Arbusto with little oil and no
profits, just tax shelter George W. Bush changes the company name
to Bush Exploration Oil Co. Subsequently he is kept afloat by an
investment from Philip Uzielli, a Princeton friend of James Baker
III. For the sum of $1 million, Uzielli bought 10% of the company
at a time in 1982 when the entire enterprise was valued at less
than $400,000. Subsequently, to save the company George W. Bush
merges with Spectrum 7, a small oil firm owned by William DeWitt
and Mercer Reynolds. DeWitt had graduated from Yale a few years
earlier than Bush and was the son of the former owner of the Cincinnati
Reds. Bush becomes president of Spectrum 7. He also gets 14% of
the Spectrum's stock. Meanwhile, 50 original investors in Arbusto
get paid off at about 20 cents on the dollar.

KAL 007 crashes under circumstances that remain suspicious to this
day.

Bush promotes Jennifer Fitzgerald from appointments secretary to
executive assistant. Seven staffers resign in protest. Fitzgerald
tells the New York Post: "Everyone keeps painting me as this
old ogre. I really don't worry about it. All these bizarre things
just simply aren't true."

Neil Bush forms his first oil company. He puts in $100, his partners
contribute $160,000 and Neil is named president of the firm, JNB
Exploration.

Jeb Bush's business partner, Alberto Duque, goes bankrupt, is eventually
convicted of fraud and is sentenced to 15 years in prison.

1984

Jeb Bush lobbies the Department of Health & Human Services
on behalf of Cuban-American businessman Miguel Recarey, Jr., whose
medical firm later collapses. Recarey, who was close to mobster
Santos Trafficante, later flees the US under indictment with at
least $12 million in federal funds.

George Bush takes part in meetings to plan increased "third
country" aid to the Contras..

CIA mines Nicaraguan harbors.

1985

Jennifer Fitzgerald is sent to work on Capitol Hill after stories
arise linking her romantically with George Bush.

George Bush thanks Oliver North for "dedication and tireless
work with the hostage thing, with Central America." Bush will
later deny knowing about the Contra effort until late 1986.

Neil Bush joins the board of Silverado S&L, serves until 1988.
Silverado loans his partners in JNB $132 million which they never
repay. Silverado will eventually collapse at a taxpayer cost of
$1 billion.

408 TOW anti-tank missiles are shipped from Israel to Iran. A day
later, US hostage Benjamin Weir is released.

1986

VP Bush goes to Honduras to promote support for the Contras. Takes
along baseball players Nolan Ryan and Gary Carter.

Bush may have made several secret visits to Damascus between 1986-88
according to a 1992 report in Time, which said two senior GOP senators
were pressing for a probe. The allegation is that Bush went to negotiate
the release of hostages in Lebanon but in fact stonewalled Syria,
"playing for campaign timing. Republicans want to get to the
bottom of intelligence-community suspicions that the US somehow
blew a chance to free Terry Anderson and his fellow captives."

George W. Bush and partners receive more than $2 million of Harken
Energy stock in exchange for a failing oil well operation, which
had lost $400,000 in the prior six months. After Bush joined Harken,
the largest stock position and a seat on its board were acquired
by Harvard Management Company. The Harken board gave Bush $600,000
worth of the company's publicly traded stock, plus a seat on the
board plus a consultancy that paid him up to $120,000 a year. When
Harken runs short of cash it hooks up with investment banker Jackson
Stephens of Little Rock, Arkansas, who arranges a $25 million stock
purchase by Union Bank of Switzerland. Sheik Abdullah Bakhsh, who
joins the board as a part of the deal, is connected to the infamous
BCCI.

1987

Bush's former chief of staff, Daniel Murphy, flies to Panama with
South Korean influence peddler Tongsun Park on a private plane owned
by arms dealer Sargis Soghnalian to meet with Noriega. Murphy later
tells a Senate subcommittee that he informed Noriega that he need
not resign before the 1988 election despite the Reagan administration
public pressure to the contrary.

Bill Casey dies.

Lee Atwater accuses Robert Dole of spreading stories about Bush
and Jennifer Fitzgerald. An agreement is worked out, as reported
by Sidney Blumenthal in the Washington Post: "The Dole people
didn't spread any rumors and promised not to do it again. And the
Bush people haven't spread rumors about the Dole people spreading
rumors and won't do it again. "

Harken Energy project gets rescued by aid from the BCCI-connected
Union Bank of Switzerland in a deal brokered by Jackson Stephens,
later to show up as a key supporter of Bill Clinton.

1988

Jeb Bush and a partner default on a $4.5 million loan from a Florida
S&L. The default will cost taxpayers' millions. Bush and his
partners will repay only ten percent of the loan but will keep all
real estate collateralized by it.

Silverado S&L goes under after receiving 126 cease & desist
orders in past four years from the Topeka office of the Office of
Thrift Supervision. These orders found conflict of interests, insider
abuse and other violations.

Dwight Chapin, ex-Nixon dirty trickster, gets job in Bush campaign.

Rudi Slavoff becomes head of Bulgarians for Bush. In 1983, Slavoff
organized an event honoring Austin App, promoter of the theory that
the Holocaust was a hoax.

Slavoff joins other GOP ethnic leaders in the Coalition of American
Nationalities co-chaired by Edward Derwinski. Among them is a former
member of an Hungarian pro-Nazi party. After press revelations,
eight of the leaders accused of anti-semitism resign from the campaign.
Bush says: "Nobody's giving in... These people left of their
own account."

GOP flier warns that "all the murderers, rapists and drug
pushers and child molesters in Massachusetts vote for Michael Dukakis."

Bush establishes Team 100, which will eventually grow to 249 individuals
who contribute nearly $25 million in soft money to help the GOP
cause. The contributions also apparently help the contributors,
various of whom get ambassadorial appointments, legislative favors,
and intervention on regulatory and criminal matters.

Bush denies knowledge of Noriega's involvement in drug dealing.

The Willie Horton ad is aired. Credit for similar tactics is given
to campaign guru Lee Atwater, whose PR firm had represented drug-connected
Bahamian prime minister Oscar Pinding and the Philippines' Marcos.
Atwater himself had represented UNITA, the CIA-backed Africa rebel
group.

Fred Malek, ex-Nixon aide, resigns from the Bush campaign after
it's revealed that he compiled a list of Jews in the Labor Dept.
as part of a Nixon investigation of a "Jewish cabal."

A few days before the supposedly surprise arrest of five BCCI officials,
some of the world's most powerful drug dealers quietly withdraw
millions of dollars from the bank. Some government investigators
believe the dealers were tipped off by sources within the Bush administration.

Although Felix Rodriguez, former leading cop under Batista, claims
he left the CIA in 1976, Rolling Stone reports that he is still
going to CIA headquarters monthly to receive assignments and get
his bulletproof Cadillac serviced.

Bankruptcy judge George Bason Jr. concludes that the government
stole Inslaw's software through "trickery, fraud and deceit."

Stock market drops 43 points on false rumor that Washington Post
was about the publish the Bush-Fitzgerald story.

1989

Bush inaugurated. Aides tell the press that the new administration
would rather "stay one step behind than be one step ahead."

Bush brother Prescott flies to Shanghai after the Tiananmen Square
massacre to close a deal for an $18 million resort there, despite
his brother's ban on high-level Chinese contacts. Prescott says,
"We aren't a bunch of carrion birds coming in to pick the carcass.
But there are big opportunities in China, and America can't afford
to be shut out."

Prescott Bush also visits Japan, searching for consulting contracts
just ten days before his brother arrives on a presidential tour.
The Japanese firm that paid Prescott a quarter-million dollar consulting
fee comes under investigation for exchange law violations and links
to the Japanese mob.

C. Boyden Gray, the president's top ethics official, corrects his
1985 and 1986 financial disclosure forms. He forgot to include $98,000
in income.

George Bush signs the S&L bailout bill promising that "these
problems will never happen again."

The Chicago Tribune reports: "After 14 fishing outings, the
President has failed to catch a single fish."

At White House behest, the DEA lures drug dealer to Lafayette Park
to make arrest in front of presidential home for the benefit of
Bush's upcoming drug speech. At first, drug dealer is dubious, asks
DEA agent, "Where the fuck is the White House?"

Defense secretary nominee John Tower runs into confirmation troubles
when it is revealed that he has received hundreds of thousands of
dollars in consulting fees from defense contractors. Runs into more
trouble with revelations of womanizing and drinking. His nomination
is rejected.

The sale of three communications satellites to China is announced.
Prescott Bush is a $250,000 consultant in the deal.

GOP memo is leaked implying that House Speaker Tom Foley is a homosexual.

President Bush signs a top-secret directive ordering closer ties
with Iraq, which opens the way for $1 billion in new aid just a
little more than a year before Bush goes to war against that country.
The agricultural credit allows Saddam Hussein to use his hard currency
for a massive military buildup.

A second judge concurs that the government stole Inslaw's software.

The Statistical Abstract of the United States, published by the
US government, reports that the GNP of East Germany during the 1980s
was greater than that of West Germany. The figures come from the
CIA.

Bahrain officials suddenly break off offshore drilling negotiations
with Amoco and decide to deal with Harken Energy, George Bush Jr.'s
firm. Harken has had a series of failed ventures and no cash, so
the Bass brothers are brought in to finance Harken's efforts at
a cost of $50 million.

Neil Bush bails out of JNB Exploration, the firm where he became
president with a $100 ante, leaving his partners to worry about
its debt. Days earlier he forms Apex Energy with a personal investment
of $3000. The rest of the money -- $2.7 million -- comes from an
SBA program designed to help "high risk start-up companies."
Like JNB, it proves to be just that. Apex will later go belly-up
with no assets.

Two months after his father's inauguration, George W. Bush announces
that he and a syndicate of investors have purchased the Texas Rangers.
The investors are Edward "Rusty" Rose, Richard Rainwater,
Bill DeWitt, Roland Betts (a former Yale frat brother) and Tom Bernstein
(Bett's partner in a film investment concern). While Bush appears
to lead the group, Rainwater makes clear that Rose is to control
how the business is run. Bush's stake in the $86 million deal is
2%, financed with a $500,000 loan from a Midland Bank of which he
had been a director and $106,000 from other sources. Rainwater and
Rose put up 14.2 million, Betts and Bernstein invested about $6
million and the balance comes from smaller investors and loans.
Bush will eventually sell his share for $15 million.

1990

Federal regulators give Bush son Neil the mildest possible penalty
in the $1 billion failure of the Silverado S&L. The deal is
so good that Bush drops his appeal. Among other things, Neil, as
a Silverado director, voted to approve over $100 million in loans
to his business partners.

January: Bahrain awards exclusive offshore drilling rights to Harken
Oil. This is a surprise as Harken is in very shaky financial condition,
has never drilled outside of Texas, Louisiana and Oklahoma and had
never drilled undersea at all. The Bass brothers are brought in
by Harken for sufficient equity to proceed with the effort. Harken's
stock price increases from $4.50 to $5.50.

George W. Bush sells two-thirds of his Harken Energy stock at the
top of the market for $850,000, a 200% profit, but makes no report
to the SEC until March 1991. Bush Jr. says later the SEC misplaced
the report. An SEC representative responds: "nobody ever found
the 'lost' filing." One week after Bush's sale, Harken reports
an earnings plunge. Harken stock falls more than 60%. Bush uses
most of the proceeds to pay off the bank loan he had taken a year
earlier to finance his portion of the Texas Rangers deal.

August: Saddam Hussein invades Kuwait. Harken's stock price drops
substantially. Two months after Bush sells his stock, Harken posts
losses for the 2nd quarter of well over $20 million and is shares
fall another 24 %, by year end Harken is trading at $1.25. Bush
has insisted that he did not know about the firm's mounting losses
and that his stock sell-off was approved by Harken's general counsel.

George W. Bush is asked by Carlyle Group to serve on the board
of directors of Caterair, one of the nation's largest airline catering
services which it had acquired in 1989. The offer is arranged by
Fred Malek, long time Bush associate who is then an advisor to Carlyle.

October: Arlington, Texas Mayor Richard Greene signs a contract
that guarantees $135 million toward the new Texas Ranger Stadium's
estimate price of $190 million. The Rangers put up no cash but finance
their share through a ticket surcharge. From the team's operating
revenues, the city will earn a maximum of $5 million annually in
rent, no matter how much the Rangers reap from ticket sales and
television (a sum that will rise to $100 million a year). Another
provision permitts the franchise to buy the stadium after the accumulated
rental payments reached a mere $ 60 million. The property acquired
so cheaply by the Rangers includes not just a fancy new stadium
with a seating capacity of 49,000 but an additional 270 acres of
newly valuable land. Legislation is passed and signed that authorizes
the Arlington Sports Facilities Development Authority with power
to issue bonds and exercise eminent domain over any obstinate landowners.
Never before had a Texas municipal authority been given the license
to seize the property of a private citizen for the benefit of other
private citizens. A recalcitrant Arlington family refuses to sell
a 13 acre parcel near the stadium site for half its appraised value.
The jury awards more than $4 million to the family.

Fred Malek returns to power with ambassador status to head up planning
for the economic summit.

S&L industry is losing money at the rate of $3 million a minute.
Bailout chief estimates total cost at $325-500 billion.

Some 200 young soccer players have their games canceled for security
reasons because Bush wants to go fishing on the Potomac nearby.
Says one seven-year-old player: "We had a tough soccer game
and he's just going fishing. He could play somewhere else."

Bush brother Jonathan's east coast brokerage fined in two states
for violating laws and Jonathan is barred from public trading in
Massachusetts.

Bush's attorney general, Richard Thornberg, is warned about BCCI
but does nothing.

Federal court of appeals throws out the Inslaw case on the grounds
that it did not belong in bankruptcy court.

Bush says, "The economy is headed in the right direction."

1991

Former top aide to White House Chief of Staff John Sununu goes
to work for a prominent figure in the BCCI scandal less than a month
after leaving the Bush administration. Edward Rogers Jr. signs a
$600,000 contract to give legal advice to Sheik Kamal Adham, an
ex-Saudi intelligence officer who is being investigated for his
role in BCCI's takeover of First American Bancshares.

The Miami acting US Attorney is allegedly rebuffed by the Justice
Department in his efforts to indict BCCI and some of its principal
officers on tax fraud charges. Justice Department later denies this
occurred.

Danny Casolaro, a reporter investigating the Inslaw story, is found
dead in a motel room bathtub, the day after he met a key source.
The death was ruled a suicide. Perhaps he is despondent over the
loss of his briefcase, which is missing from the room.

George Bush spends three nights in a Houston hotel so he can claim
Texas residency. Texas has no income tax.

Neil Bush bails out of Apex Energy after collecting $320,000 in
salary plus expenses. Bill Daniels, cable-TV magnate who has been
lobbying against regulation of the cable industry, offers Neil a
job. According to a representative, he "thought Neil deserved
a second chance."

1992

New York Times reports that three of Bush's top fundraisers are
being sued in connection with bank failures and another pleaded
guilty to mail fraud in connection with an S&L. These men include
the GOP national finance chair, vice chair and two co-chairs of
the President's Dinner, which raised $9 million for Republican causes.

Former US Attorney General Elliot Richardson, representing the
owners of Inslaw, tells Mother Jones, "I don't know any case
where the government has stonewalled like this."

First of Harken Energy's wells off Bahrain comes up dry. George
W. Bush takes a leave of absence from the firm to work in his father's
campaign, saying "I don't want to involve this company in any
kind of allegations of conflicts or whatever may arise."

Village Voice reports that President Bush has taken at least 76
partisan flights during his term, at a cost to the taxpayers of
over $6 million.

Nixon's Jew hunter Fred Malek is back as Bush's campaign manager.

Campaign sells photo opportunities with the president at a fundraiser
for $92,000 each.

Washington, DC, loses $52,000 in taxes because Bush claims to be
a Texas resident.

Donald H. Alexander contributes $100,000 to Team 100; shortly thereafter
he's named ambassador to the Netherlands.

Bush says: "I will do what I have to do to be reelected."

JERRY URBAN, HOUSTON CHRONICLE, JUNE 4, 1992: The Financial Crimes
Enforcement Network -- known as FinCEN -- and the FBI are reviewing
accusations that entrepreneur James R. Bath guided money to Houston
from Saudi investors who wanted to influence US policy under the
Reagan and Bush administrations, sources close to the investigations
say . . . The federal review stems in part from court documents
obtained through litigation by Bill White, a former real estate
business associate of Bath . . . White became entangled in a series
of lawsuits and countersuits with Bath, who for some six years has
prevailed in the courts. . . . In sworn depositions, Bath said he
represented four prominent Saudis as a trustee and that he would
use his name on their investments. In return, he said, he would
receive a 5 percent interest in their deals. Tax documents and personal
financial records show that Bath personally had a 5 percent interest
in Arbusto '79 Ltd., and Arbusto '80 Ltd., limited partnerships
controlled by George W. Bush, President Bush's eldest son. Arbusto
means 'bush' in Spanish. Bath invested $ 50,000 in the limited partnerships,
according to the documents. There is no available evidence to show
whether the money came from Saudi interests. George W. Bush's company,
Bush Exploration Co., general partner in the limited partnerships,
went through several mergers, eventually evolving into Harken Energy
Corp., a suburban Dallas-based company . . . Bush said that to his
knowledge, Bath's investment was from personal funds, and no Saudi
money was invested in Arbusto. Bath, 55, a former U.S. Air Force
pilot, declined to comment for the record. Spokesmen for FinCEN
and the FBI also declined to comment. According to a 1976 trust
agreement, drawn shortly after Bush was appointed director of the
Central Intelligence Agency, Saudi Sheik Salem M. Binladen appointed
Bath as his business representative in Houston. Binladen, along
with his brothers, owns Binladen Brothers Construction, one of the
largest construction companies in the Middle East. According to
White, Bath told him that he had assisted the CIA in a liaison role
with Saudi Arabia since 1976. Bath has previously denied having
worked for the CIA . . . Bath received a 5 percent interest in the
companies that own and operate Houston Gulf Airport after purchasing
it on behalf of Binladen in 1977.

1993

With the new Ranger stadium being readied to open the following
spring, George W. Bush announces that he would be running for governor.
He is says his campaign theme will be self-reliance and personal
responsibility rather than dependence on government.

PBS FRONTLINE: [From a French source] The Saudi authorities' decision
to issue an arrest warrant for Osama bin Laden on 16 May 1993 does
not threaten to affect the relationship between the bin Ladens and
the royal family. Osama, one of Mohammed's youngest son, has been
known for years for his fundamentalist activities . . . King Fahd's
two closest friends were: Prince Mohammed Ben Abdullah (son of Abdul
Aziz' youngest brother), who died in the early '80s and whose brother,
Khaled Ben Abdullah (an associate of Suleiman Olayan), still has
free access to the king; and Salem bin Laden, who died in 1988 .
. . Like his father in 1968, Salem died in a 1988 air crash...in
Texas. He was flying a BAC 1-11 which had been bought in July 1977
by Prince Mohammed Ben Fahd. The plane's flight plans had long been
at the center of a number of investigations. According to one of
the plane's American pilots, it had been used in October 1980 during
secret Paris meetings between US and Iranian emissaries. Nothing
was ever proven, but Salem bin Laden's accidental death revived
some speculation that he might have been "eliminated"
as an embarrassing witness. In fact, an inquiry was held to determine
the exact circumstances of the accident. The conclusions were never
divulged . . . There was also a political aspect to Salem bin Laden's
financial activities . . . Salem bin Laden played a role in the
US operations in the Middle East and Central America during the
'80s. On his death in 1968, Sheik Mohammed left behind not only
an industrial and financial estate but also a progeny made up of
no less than 54 sons and daughters, the fruit of a number of marriages
. . . Upon Sheik Salem's death, the leadership of the group passed
to his eldest son, Bakr, along with thirteen other brothers who
make up the board of the bin Laden group. The most important of
these are Hassan,Yeslam and Yehia. Most of these brothers have different
mothers and different nationalities as well. Each has his own set
of affinities, thus contributing to the group's international scope.
Bakr and Yehia are seen as representatives of the "Syrian group";
Yeslam, of the "Lebanese group". There is also a "Jordanian
group." Abdul Aziz, one of the youngest brothers, represents
the "Egyptian group" and is also manager of the bin Laden
group's Egyptian branch, which employs over 40,000 people. Osama
bin Laden is, incidentally, the only brother with a Saudi mother.

FRONTLINE

1994

George W. Bush is elected Governor of Texas, defeating Ann Richards
53 to 46 %.

later dates

The BCCI affair

CARTER, REAGAN, BUSH,
CLINTON, BUSH, AND BCCI

THE GREATEST FINANCIAL scandal in history -- the BCCI affair --
left American participants virtually untouched. The media covered
the scandal poorly even though, according to one investigative journalist,
up to a hundred Washington politicians and lawyers might have been
criminally liable.

As a result -- much like Clinton and the Dixie Mafia -- Americans
have but the vaguest notion of what happened. In fact, the two stories
overlap. And like many contemporary sagas of corruption, the two
stories reached deep into both the major parties. In fact, if George
W. Bush is elected, we will be entering our fifth consecutive presidential
administration (two Democratic and three Republican) with direct
ties to leading figures in the biggest financial scandal of all
time.

This time line suggests some of the interplay of individuals and
parties:

1975
National Bank of Georgia president Bert Lance, whom former Georgia
Governor Jimmy Carter described as being like a brother and was
Carter's chosen but defeated successor, meets with Jackson Stephens,
a Naval Academy classmate of Carter. Stephens Inc. arranges public
offering of NBG stock. Stephens would later be described by the
New York Post as the man who was to "Clinton what Bert Lance
was to candidate Jimmy Carter."

1976
Both Stephens and Lance help Carter in his race for the White House.
Carter uses the NBG corporate plane without disclosing it. Campaign
is later fined.

Two Indonesian billionaires come to Arkansas. Mochtar Riady and
Liem Sioe Liong are close to Suharto. Riady is looking for an American
bank to buy. Riady's agent is Jackson Stephens.

1977
Lance comes to Washington as director of the Office of Management
and Budget. He quickly comes under investigation for his past financial
dealings and in September resigns. His lawyer is Clark Clifford,
later embroiled in the BCCI case.

George W. Bush begins operations of his oil firm, Arbusto Energy.
He assembles several dozen investors in a limited partnership including
Dorothy Bush (a friend of BCCI figure Robert Altman), Lewis Lehrman,
William Draper, and James Bath, a Houston aircraft broker who bought
several planes from Air America, a CIA front. Bath's firm appears
to be owned by Saudi investors. He also was a part-owner of a Houston's
Main Bank, along with a couple of BCCI figures.

Stephens brokers the arrival of BCCI to this country, and steers
BCCI's founder, Hassan Abedi to Bert Lance.

Stephens Inc tries to sell Riady stock in the National Bank of
Georgia. The Washington Post quotes a US banker suggesting that
Riady is working for Suharto, who is trying to butter up Carter:
"They think of this country like a 'regime' similar to their
own and they just don't realize that such a ploy wouldn't work."
There's no deal. Lance's bank will eventually be taken over by a
BCCI front man -- Ghaith Pharaon. Pharaon later sells his bank to
First American. Pharaon will be fined $37 million by the Federal
Reserve Board and become a fugitive.

Abedi moves to secretly take over First American Bankshares --
later the subject of the only BCCI-connected scandal to be prosecuted
in the US.

Lance is indicted on charges of violating federal banking laws.
Clifford's partner, Robert Altman, represents Lance who eventually
achieves a hung jury.

During this same period, Stephens is, according to Peter Truell
and Larry Gurwin in "False Profits," playing "a crucial
role in BCCI's penetration of the US market."

1984
Mochtar Riady buys a stake in the Worthen holding company whose
assets include the Stephens-controlled Worthen Bank. Price: $16
million. Other Worthen co-owners will eventually include BCCI investor
Abdullah Taha Bakhish. Deal handled by C. Joseph Giroir II. Giroir
is the Rose law firm chair who hired Hillary Clinton. Giroir will
continue to be a deal-maker for the Riadys.

1985
Arkansas state pension funds -- deposited in Worthen by Governor
Bill Clinton -- suddenly lose 15% of their value because of the
failure of high risk, short-term investments and the brokerage firm
that bought them. The $52 million loss is covered by a Worthen check
written by Jack Stephens in the middle of the night, an insurance
policy, and the subsequent purchase over the next few months of
40% of the bank by Mochtar Riady. Clinton and Worthen escape a major
scandal. Mochtar's son James comes back to Arkansas to manage Worthen
as president.

Worthen is investigated by the Office of the Comptroller of the
Currency for improper loans to companies owned by the Riadys and
Stephenses.

1986
George W. Bush and partners receive more than $2 million of Harken
Energy stock in exchange for a failing oil well operation, which
has lost $400,000 in the prior six months. After Bush joins Harken,
the largest stock position and a seat on its board is acquired by
Harvard Management Company. The Harken board gives Bush $600,000
worth of the company's publicly traded stock, plus a seat on the
board plus a consultancy that pays him up to $120,000 a year. When
Harken runs short of cash it hooks up with Jackson Stephens, who
arranges a $25 million stock purchase by Union Bank of Switzerland.
Sheik Abdullah Bakhsh, who joins the board as a part of the deal,
is connected to BCCI.

1988
Stephens' wife Mary Ann runs George Bush's campaign in Arkansas.
He is a member of Team 100 -- individuals who have given $100,000
to the Republican party.

A few days before the supposedly surprise arrest of five BCCI officials,
some of the world's most powerful drug dealers quietly withdraw
millions of dollars from the bank. Some government investigators
believe the dealers were tipped off by sources within the Reagan
administration.

1989
Bahrain officials suddenly break off offshore drilling negotiations
with Amoco and decide to deal with Harken Energy, George W. Bush's
firm. Harken has had a series of failed ventures and no cash, so
the Bass brothers are brought in to finance Harken's efforts at
a cost of $50 million. Harken's investment banker is the same firm
that helped in BCCI's acquisition of First American. Among the other
BCCI-connected figures that help the deal: Bahrain's prime minister.

1990
Bush's attorney general, Richard Thornberg, is warned about BCCI
but does nothing.

1991
Stephens Inc gives $100,000 to a Bush dinner committee.

With Stephens, Mochtar Riady buys BCCI's former Hong Kong subsidiary
from its liquidators.

A former top aide to White House Chief of Staff John Sununu goes
to work for a prominent figure in the BCCI scandal less than a month
after leaving the Bush administration. Edward Rogers Jr. signs a
$600,000 contract to give legal advice to Sheik Kamal Adham, an
ex-Saudi intelligence officer who is being investigated for his
role in BCCI's takeover of First American Bankshares.

The Miami acting US Attorney is reportedly rebuffed by the Justice
Department in his efforts to indict BCCI and some of its principal
officers on tax fraud charges. Justice Department later denies this
occurred.

1992
Ronald Reagan is introduced at the GOP convention by former senator
Paul Laxalt, whose law firm represented BCCI in a drug money case.
The chair of the convention, Craig Fuller, has been the number two
official of Hill & Knowlton which was involved in the BCCI-First
American case. Bush's campaign press representatives has done PR
for a Saudi sheik accused of involvement in the BCCI affair, earning
$200,000 in fees in just two months.

Employees of Stephens Inc. give more money to the Clinton campaign
than those of any other firm except Goldman, Sachs and the NY law
firm of Wilke, Farr & Gallagher.

Stephens' Worthen Bank gives Clinton a $3.5 million line of credit
allowing the cash-strapped candidate to finish the primaries. Little
Rock Worldwide Travel provides Clinton with $1 million in deferred
billing for his campaign trips. Without the Worthen and Worldwide
largess, it is unlikely that the cash-strapped candidate could have
survived through the later primaries.

1995
Webster Hubbell, a former Rose law firm partner -- although not
known for skill in Asian trade matters -- goes to work for a Lippo
Group affiliate after being forced out of the Clinton administration
and before going to jail. Hubbell represented both Worthen and James
Riady during the 1980s.

1998
With the settlement of civil fraud charges against Clark Clifford
and Robert Altman, the puny and often diverted investigation into
the American branch of the BCCI scandal effectively comes to an
end. Under the deal, the pair will have to surrender $5 million
in stock in First American Bankshares, which had been illegally
controlled by BCCI. They will, however, get to keep $10-15 million
in proceeds obtained during their tenure as First American attorneys.

*****

The BCCI scandal cheated depositors out of over $10 billion worldwide.
Many of these were lower income people now being paid off at 15
and 25 cents on the dollar for damage done by a illegal operation
willingly used not only by hundreds of drug dealers and other criminals
from various countries but by the intelligence services of five
nations (including the CIA) and at least one government, Pakistan,
seeking to finance its nuclear weapons development.
Things always moved a little too smoothly in the BCCI investigation,
leaving scores of unanswered questions and, so far as can be determined,
hardly anyone to blame. One exception, Swaleh Naqvi, BCCI's number
two man, was given a mild sentence -- over the objections of Manhattan
District Attorney Robert Morgenthau. He later told prosecutors that
he had never explained to Altman and Clifford who really owned First
American.

Naqvi's plea bargain with Justice appeared to have been what the
Wall Street Journal called "sweetheart justice." Said
the Journal: "When drugs and money laundering arrive, political
corruption cannot be far behind. If we had an explanation of how
BCCI got away with its illegal purchase of First American, we could
afford to dismiss such ambiguous connections as lawyer-client relationships.
But we have no such answer, and are left to speculate why, in the
Naqvi plea-bargain, the Justice Department does not seem to be pressing
for one."

The American media has studiously downplayed the story to the end.
The New York Times, for example, put the Altman-Clifford settlement
on its business page.

But while the story has disappeared not all the characters connected
to this saga have. One, for example, is still president and another
is ahead in the polls.